Dogecoin Price Analysis: Is Dogecoin Worth The Investment?

Currently, Dogecoin is one of the trending cryptocurrencies. According to experts, Dogecoin is a high value buy for 2019. Dogecoin is a blockchain based peer-to-peer cryptocurrency that came into the existence as a “joke currency” on December 06 2013.

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Due to its popularity in January 2014, it reached a capitalization of around USD 60 million. By mid-2015, 100 billion coins underwent mining and circulation. DOGE aimed to keep the market cool and steady and to avoid the failure of other cryptocurrencies including bitcoin.

Dogecoin ranks on 27th position and its market cap value is $245,647,878 USD at the site Coinmarketcap. The current market value is relatively higher to its corresponding value in February.

However, after touching 284 million in January, the market went little downwards. But in February, a steady rise was seen. Though the differences between the values have progressed by a very small percent. Overall, the rising value has taken the digital currency on a positive line.

Dogecoin Technical Analysis

The DOGE/USD pair predicts the current value to be USD 0.002070. This coin reached its milestone between February 17 and February 24, where the DOGE price of USD went from a low of USD 0.001946 to a high of USD 0.002120 which saw an 8.94%, increase. But in the Feb end the coin had small dropdown in the values and was struggling to keep the pace.

Dogecoin chart

By going slightly downwards in early March, the last 5-day average shows the values going upwards with a small percentage, with the value on March 16 standing at 0.002058 at 4.44(UTC +05.30).

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The Dogecoin looks very promising and can outperform this year. The rising value gives the cryptocurrency an upper hand. Hence, it is a good time for investors to get long term benefits. More investment from traders will help the value of the cryptocurrency to go further high in the future.

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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